Spanish Prime Minister Mariano Rajoy on Monday has said King Juan Carlos plans to abdicate and pave the way for his son, Crown Prince Felipe, to become the country's next king.
The 76-year-old Juan Carlos oversaw his country's transition from dictatorship to democracy but has had repeated health problems in recent years, reports AP.
His popularity also dipped following royal scandals, including an elephant-shooting trip he took in the middle of Spain's financial crisis that tarnished the monarch's image.
The king came to power in 1975, two days after the death of longtime dictator Francisco Franco.
For much of his reign, Juan Carlos was seen as one of the world's most popular monarchs.
But recently many Spaniards have lost confidence in him, mainly because of a long-running corruption investigation into his daughter and her husband.
